CareDx, Inc. (NASDAQ:CDNA) Stock Has Consensus Target Price of $54.00

CareDx, Inc. (NASDAQ:CDNA) has been given an average recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $57.00.

Several equities research analysts have weighed in on CDNA shares. Weiss Ratings raised CareDx from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research lowered CareDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. BTIG Research upped their price objective on shares of CareDx from $60.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 24th. William Blair raised shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. Finally, Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, August 3rd.

CareDx Trading Up 3.2%

Shares of CDNA opened at $69.20 on Friday. CareDx has a 12 month low of $14.03 and a 12 month high of $72.51. The stock has a fifty day moving average price of $55.87 and a 200-day moving average price of $36.98. The firm has a market cap of $3.58 billion, a PE ratio of 33.43 and a beta of 2.38.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%. The firm had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. During the same quarter last year, the firm earned ($0.16) EPS. The business’s quarterly revenue was up 52.2% on a year-over-year basis. As a group, research analysts forecast that CareDx will post 0.47 EPS for the current year.

Insider Activity at CareDx

In other CareDx news, Director George Bickerstaff, III sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total transaction of $925,600.00. Following the transaction, the director owned 134,061 shares in the company, valued at approximately $6,204,343.08. This represents a 12.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christine Cournoyer sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total transaction of $751,040.00. Following the transaction, the director owned 42,943 shares in the company, valued at $2,015,744.42. The trade was a 27.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CareDx

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nykredit A S acquired a new position in shares of CareDx in the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of CareDx in the second quarter worth about $29,000. IFP Advisors Inc raised its stake in shares of CareDx by 1,158.0% in the third quarter. IFP Advisors Inc now owns 1,107 shares of the company’s stock worth $72,000 after purchasing an additional 1,019 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of CareDx during the third quarter worth about $97,000. Finally, Allworth Financial LP acquired a new stake in shares of CareDx during the second quarter worth about $72,000.

About CareDx

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.